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Dec 23, 2012
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but he did leave the door open a little. >> i'm okay, you president, you can tax the rich people. but come up with some spending cuts, we're borrowing $1 trillion a year and he has not. >> indiana senator joe lieberman said he's more pessimistic than he's ever been that a deal will get done. >> in the aftermath of the house republicans rejecting speaker boehner's so-called plan b, the first time that i feel that it's more likely that we will go over the cliff than not. and that, if we allow that to happen, it will be the most colossal consequential act of congressional irresponsibility in a long time. maybe ever in american history. >> leaders from both sides are expected back in washington on thursday. in india. growing demonstrations after a 23-year-old woman was gang-raped on a bus. the protesters are growing angrier over the number of rapes in the capital and the inadequate police response. authorities have tried to ban protests in new delhi, that ban has calmed nothing public outrage over the violent rape has grown. this from our sister network. >> there have been protests al
but he did leave the door open a little. >> i'm okay, you president, you can tax the rich people. but come up with some spending cuts, we're borrowing $1 trillion a year and he has not. >> indiana senator joe lieberman said he's more pessimistic than he's ever been that a deal will get done. >> in the aftermath of the house republicans rejecting speaker boehner's so-called plan b, the first time that i feel that it's more likely that we will go over the cliff than not. and...
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Dec 30, 2012
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the minimum tax and the estate tax. that is everything that would hit average americans. the fiscal cliff, it may be bigger than people realize. don? >> lisa, thank you very much. a lot of us would like to tell lawmakers what we think of them. here is your chance right now, go to our ireport.com and start a message and we will play them to congress on air. it's murder charges now for a new york city woman who we are told has confessed to pushing a man in the subway track to his death. these details are new and we are still gathering information. there is david, he is in new york. david, what has this woman confessed? >> she seems to have confessed to a hate crime, don, she has been charged with second degree murder in the case of this man who was pushed off the subway platform in queens on thursday. and the queens district attorney's office released this statement. it was a quote from her saying i pushed a muslim off the tracks, ever since they put down the twin towers i've been beating them up. this adds a twist to the case that riled new york. this is the second inciden
the minimum tax and the estate tax. that is everything that would hit average americans. the fiscal cliff, it may be bigger than people realize. don? >> lisa, thank you very much. a lot of us would like to tell lawmakers what we think of them. here is your chance right now, go to our ireport.com and start a message and we will play them to congress on air. it's murder charges now for a new york city woman who we are told has confessed to pushing a man in the subway track to his death....
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Dec 28, 2012
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they say no higher rates on the rich, no tax hikes on anyone. based on an ideology that calls on government to be as small as possible. its roots are as old as american, but the main spokesman is this man, grover norquist, president of americans for tax reform. norquist's pledge signed by almost all republicans in congress forbids them from raising taxes ever under any circumstances. things come to a head in the summer of 2011. republicans demand the government reduce its deficit as a condition for raising the debt ceiling. without a deal, the u.s. would lose its ability to borrow money. they deploy tactics that nearly shut down the government and ultimately cost america its aaa credit rating for the first time in history. but in a last-minute compromise, both sides agree to a trillion dollars in spending cuts up front and another $1.2 trillion in cuts to be decided by a special super committee. but a poison pill was attached. if the super committee can't reach a deal, automatic across the board cuts known as the sequester would go into effect j
they say no higher rates on the rich, no tax hikes on anyone. based on an ideology that calls on government to be as small as possible. its roots are as old as american, but the main spokesman is this man, grover norquist, president of americans for tax reform. norquist's pledge signed by almost all republicans in congress forbids them from raising taxes ever under any circumstances. things come to a head in the summer of 2011. republicans demand the government reduce its deficit as a condition...
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Dec 30, 2012
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the alternative minimum tax is one that people talk about. the estate tax. these are all things that would affect average americans and which would hit on january 1st. so the fiscal cliff, it might be even bigger than people realize. don? >> lisa, thank you very much. >>> we've got a lot more planned for you this saturday night. here's what else is ahead. as our lawmakers wrestle with u.s. gun violence, chicago hits an awful milestone. 500 murders this year and counting. what's to blame? a former gang member and chicago's police superintendent join me live. >>> plus, president obama could tap this republican to lead the defense department. but not everyone wants to see a secretary hagel. why some of the loudest voices with coming from his own party. >>> and 2012 is almost history. but what's the takeaway? comedian dean obeidallah schools us with his top ten lessons of 2012. >>> and also good news to tell you about a story we have been reporting on tonight. two missing georgia boys have been found safe in austin, texas. their father, the man who allegedly kid
the alternative minimum tax is one that people talk about. the estate tax. these are all things that would affect average americans and which would hit on january 1st. so the fiscal cliff, it might be even bigger than people realize. don? >> lisa, thank you very much. >>> we've got a lot more planned for you this saturday night. here's what else is ahead. as our lawmakers wrestle with u.s. gun violence, chicago hits an awful milestone. 500 murders this year and counting. what's...
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Dec 29, 2012
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mainly trying to find a way to avoid those tax hikes for most americans. that could also include an extension of unemployment benefits. what is unclear is whether other things such as budget cuts eliminating that sequester that's coming up or other things will be in that deal. when will all of this happen? the soon they could vote is tomorrow, but leadership tells us that they are just hoping to get the outlines of a deal to their members tomorrow so a vote also possible monday. that's when senator reid has said he wants the vote to hap n happen. again, just to be clear, we don't think anything on the sequester will be in this deal at this point or the debt ceiling. those are other issues floating around. right now this deal seems more focused and small. let's listen to what the two senators were saying last night, sounding more optimistic. >> it was a very positive meeting. there was not a lot of hilarity in the meeting. everyone knows how important it is. it was a very serious meeting and it took an extended period of time, as you all know, waiting for u
mainly trying to find a way to avoid those tax hikes for most americans. that could also include an extension of unemployment benefits. what is unclear is whether other things such as budget cuts eliminating that sequester that's coming up or other things will be in that deal. when will all of this happen? the soon they could vote is tomorrow, but leadership tells us that they are just hoping to get the outlines of a deal to their members tomorrow so a vote also possible monday. that's when...
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Dec 29, 2012
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the headline, you know, item is tax estimates. tax revenues and where tax rates will increase. what's the threshold. democrats have been saying that they would like tax increases to affect households that make $250,000 and more. they would also insist on extending unemployment benefits. they would like to see -- the president would like a delay in those automatic spending cuts, those massive spending cuts that congress set into motion that should hit beginning in the new year. and then also an increase in the estate tax, which is also planned to hit in the new year. republicans would like, in order to be able to vote for some sort of deal, to limit that threshold and where -- a limit the threshold where the tax increase hits so maybe instead of $250,000 maybe $400,000, a way to avoid that estate tax increase, they would like no delay in those spending cuts, so that they will start to hit in the new year. and they would like democrats to agree to pay for the unemployment benefits. now we don't know if -- which of these items would be in the deal they're working out today, except
the headline, you know, item is tax estimates. tax revenues and where tax rates will increase. what's the threshold. democrats have been saying that they would like tax increases to affect households that make $250,000 and more. they would also insist on extending unemployment benefits. they would like to see -- the president would like a delay in those automatic spending cuts, those massive spending cuts that congress set into motion that should hit beginning in the new year. and then also an...
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Dec 24, 2012
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. >>> nine days left before you face a new year with higher taxes. apparently a fiscal cliff solution is not wrapped up as a gift under your christmas tree. lawmakers are home for the holidays. house speaker john boehner is in ohio, president obama is in his native hawaii. you'll hear about a last ditch effort that may happen after the holiday. that story just a few moments away here as well. >> a united states senator was arrested for drunk driving early sunday morning. idaho republican mike crapo was taken to jail in alexandria virginia after midnight. he was stopped for running a red light and charged with driving under the influence. the senator has issued an apology. he was released on $1,000 bond and he has a court date. >>> christmas, two days away, and for much of the country it's going to be a white one. heavy snowfall has blanketed several states up to five feet of snow is expected. snow is also falling back east as well. like lake effect snow has blanketed areas around cleveland and buffalo. high winds are threatening to delay flights in n
. >>> nine days left before you face a new year with higher taxes. apparently a fiscal cliff solution is not wrapped up as a gift under your christmas tree. lawmakers are home for the holidays. house speaker john boehner is in ohio, president obama is in his native hawaii. you'll hear about a last ditch effort that may happen after the holiday. that story just a few moments away here as well. >> a united states senator was arrested for drunk driving early sunday morning. idaho...
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Dec 28, 2012
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to pay more taxes. i don't think they're eager to pay more taxes for one important reason, they just don't think the money is going to get used well. people just do not trust washington to spend their money effectively and i think if they had greater trust in washington, there would not be so much resistance to this, so the irony of this, don, is that this spectacle that we're seeing right now in washington is contributing to the problem and people see this, they're even more reluctant to pay taxes or to put up with the tax hike. so it is almost like it is a self-perpetuating problem. >> rick newman, thank you, sir. >> sure thing, don. >>> in other news, he's remembered as a liberator, not a conqueror. tributes pouring in for general norman schwarzkopf. he died yesterday in tampa, florida. he became a household name in the '90s when he led coalition forces in first gulf war. he once told larry king he hated war. president obama called schwarzkopf's death the loss of an american original. norman schwarzk
to pay more taxes. i don't think they're eager to pay more taxes for one important reason, they just don't think the money is going to get used well. people just do not trust washington to spend their money effectively and i think if they had greater trust in washington, there would not be so much resistance to this, so the irony of this, don, is that this spectacle that we're seeing right now in washington is contributing to the problem and people see this, they're even more reluctant to pay...
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Dec 26, 2012
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taxes because these are tax deferred accounts. >> okay, so probably safe to say don't touch them but how can you avoid the knee-jerk reactions when you see you're losing so much money? >> we've seen it. in 2009, the sky is falling, chicken little and everything's going wrong and we can't seem to, we want to jump out of the market. those in 2009 missed a 130% return in the market because they dived out at the bottom. we don't want to be a part of the individuals who as we want to buy, we want to buy low and sell high and that might be an old cliche but it works. what a lot of individuals are trying to do, they're doing is i want to sell, get rid of the risk and jump out because the fiscal cliff seems too much to take. this is one small blip in a long-term scheme of investment strategy. five plus years we should be looking at, not just a few months time span that's caused by political agenda. our economic agenda and fiscal house says let's not make any rash decisions and do some things that we'd look back on and say i missed a lot of good return. >> all right, thank you so much, ryan m
taxes because these are tax deferred accounts. >> okay, so probably safe to say don't touch them but how can you avoid the knee-jerk reactions when you see you're losing so much money? >> we've seen it. in 2009, the sky is falling, chicken little and everything's going wrong and we can't seem to, we want to jump out of the market. those in 2009 missed a 130% return in the market because they dived out at the bottom. we don't want to be a part of the individuals who as we want to...
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Dec 27, 2012
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the president's tax plan he campaigned on for five years which is to let the tax plan expire for households making less than $250,000. he would add unemployment insurance. the thinking here is he would potentially also add extending the estate tax cut. the estate tax has been at a relatively low level. it expires also at the ipd of the year. but, you know, this is all you know, to'ing and fro'ing right now to see if it's possible to pass anything to keep most americans' taxes where they are before the end of the year when everybody's tax go up. >> we heard from senator reid earlier today. they were dealing, in his words, with a dictatorship. are we expected to hear from him or any of the players from the hill in terms of trying to move this forward, whether it's publicly, in the public arena or privately? >> we are. we're told we should expect to hear from the senate republican leader mitch mcconnell. the senate is in and he will likely take to the floor we're told and give a status report from his perspective. what we're talking about right now in the senate is whether or not the democrats
the president's tax plan he campaigned on for five years which is to let the tax plan expire for households making less than $250,000. he would add unemployment insurance. the thinking here is he would potentially also add extending the estate tax cut. the estate tax has been at a relatively low level. it expires also at the ipd of the year. but, you know, this is all you know, to'ing and fro'ing right now to see if it's possible to pass anything to keep most americans' taxes where they are...
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Dec 25, 2012
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>> back in '69 they came out with something called "minimum tax." and in '82, the alternative minimum tax and this was a way to make sure the ch wealthy pay their fair share. this is how to level the playing field a little bit. this simply says now it's around $74,500. if -- it will go down to about $45,000 if the fiscal cliff goes off and nothing is done to adjust it. individuals now getting $45,000 back in '82 when first enarngted which is a lot different than $45,000 today. so if individuals earning $45,000 today might be impacted by additional taxes by this amt if something's not done. and, again, this is just a way to try to -- the problem with the amt is it wasn't adjusted for inflation so as time went on and prices have gone up and people have made more money and inflation has gone into place, things have not adjusted for the what the amt is now currently so this is going to be a big piece and those in the finance world are looking at making sure that this thing doesn't come into play. come 2014, people will have a big surprise if they file t
>> back in '69 they came out with something called "minimum tax." and in '82, the alternative minimum tax and this was a way to make sure the ch wealthy pay their fair share. this is how to level the playing field a little bit. this simply says now it's around $74,500. if -- it will go down to about $45,000 if the fiscal cliff goes off and nothing is done to adjust it. individuals now getting $45,000 back in '82 when first enarngted which is a lot different than $45,000 today....
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Dec 24, 2012
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we're going to see a lot of tax changes. payroll tax holiday. that would expire, and that means that the amount taken out of your paycheck would go from 4.2% to 6.2%, so that means if you're making $50,000 a year, it means $83 a month comes out of your paycheck. over the cliff it means you have a delay in tax refunds for the 2012 returns and that's because there's yet to be a decision made. also at stake, spending cuts. that can impact jobs. there will be big cuts to defense. that could put about 300,000 jobs at risk. unemployment benefits are cut, meaning about 2 million long-term unemployed run out of benefits. let's not forget the doctors in this. they face a 20% cut to payments for treating medicare he patients. that's a small sampling. i haven't mentioned the overall impact to the economy. company cans will continue holding off on hiring even more than now. many people believe we'll go into a reception, and the list seems to go on and on. if you want to read more about this, go to cnnmoney. it breaks it all down. they get into the numbers f
we're going to see a lot of tax changes. payroll tax holiday. that would expire, and that means that the amount taken out of your paycheck would go from 4.2% to 6.2%, so that means if you're making $50,000 a year, it means $83 a month comes out of your paycheck. over the cliff it means you have a delay in tax refunds for the 2012 returns and that's because there's yet to be a decision made. also at stake, spending cuts. that can impact jobs. there will be big cuts to defense. that could put...
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Dec 25, 2012
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do we expect the presidt to come back to washington and deal with trying to avoid these tax increases and the spending cuts? >> it really does sound like he'll be coming back, suzanne. it is not official. the white house hasn't put out a schedule update. it seems to be more a matter of when he is coming back rather than if. the senate will reconvene thursday. all eyes there as senate majority leader harry reid tries to cobble together something that can get some republican support. we'll be waiting to see exactly when president obama is coming back but we understand that the senate even though it reconvenes on thursday may not, senate democrats may not roll out a bill until closer to the new year. also get some republican support and put pressure on the house to take it up. >> we'll be following that very closely. have a wonderful christmas and of course we'll talk with you a little bit later. if there are any developments on the fiscal cliff. stay with cnn for any movement on that standoff day or night. we're the woolstons in turkey. i'm joel. >> katy, sidney, brittany. >> we'd like
do we expect the presidt to come back to washington and deal with trying to avoid these tax increases and the spending cuts? >> it really does sound like he'll be coming back, suzanne. it is not official. the white house hasn't put out a schedule update. it seems to be more a matter of when he is coming back rather than if. the senate will reconvene thursday. all eyes there as senate majority leader harry reid tries to cobble together something that can get some republican support. we'll...
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Dec 24, 2012
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he gets all this additional tax revenue for new programs. he gets to cut the military, which democrats have been calling for for years, and he gets to blame republicans for it. >> so, hey, merry christmas. our white house correspondent brianna keilar is traveling with the president in honolulu. brianna, are the white house and republicans even talking? >> reporter: no. they're not, carol. there's no substantive discussions going on between the white house and senate democrats and senate republicans and house republicans. and this is key because in order for the cliff to be averted, there will need to be something passed through congress in both the senate and the house that would require the work of both democrats and republicans. that is very much an issue as all attention now turns toward the senate, which will reconvene on thursday. a lot of focus there. that's where things are expected to start. right now the white house is still saying that they want a plan to avert tax hikes for folks making $25000 or less. it's sort of unlikely, it se
he gets all this additional tax revenue for new programs. he gets to cut the military, which democrats have been calling for for years, and he gets to blame republicans for it. >> so, hey, merry christmas. our white house correspondent brianna keilar is traveling with the president in honolulu. brianna, are the white house and republicans even talking? >> reporter: no. they're not, carol. there's no substantive discussions going on between the white house and senate democrats and...
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Dec 24, 2012
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and defending on details of your own situation, various tax breaks slipping away. in other words what we're calling the fiscal cliff. a plan to stop it all from happening still alludes washington, so congress has broken camp for the holidays and the president has gone to holiday on vacation. brianna keilar is out there for us in honolulu, eight days away from the fiscal cliff. are there any contacts occurring on this topic between the president and anyone in congress, briana? >> reporter: there is an open line of communication, i would say, with senate democrats, hala. but there is really no substantive conversations between the folks that you with need for there to be conversations between in order to strike a deal. the white house and congressional republicans, and perhaps more alarmingly, senate democrats are not in conversations right now with senate republicans or with house republicans. and this is problematic obviously because in order to avoid the fiscal cliff, you would need to find some sort of deal that would make it through the senate and the house and
and defending on details of your own situation, various tax breaks slipping away. in other words what we're calling the fiscal cliff. a plan to stop it all from happening still alludes washington, so congress has broken camp for the holidays and the president has gone to holiday on vacation. brianna keilar is out there for us in honolulu, eight days away from the fiscal cliff. are there any contacts occurring on this topic between the president and anyone in congress, briana? >> reporter:...